Minnie & Bernard Lane Foundation
- Assets
- $3.1m
- Revenue
- $327.8k
- Investments
- $2.3m
- Employees
- 0
- Location
- Altavista, VA
- Founding
- 02/1959
- Data as of
- 03/2022
- EIN
- 54-6052404
Organization Overview
Minnie & Bernard Lane Foundation is located in Altavista, VA. The organization was established in 1959. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnie & Bernard Lane Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2022, Minnie & Bernard Lane Foundation generated $327.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $348.9k during the year ending 03/2022. While expenses have increased by 2.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Minnie & Bernard Lane Foundation has awarded 415 individual grants totaling $1,919,011. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Lane Trustee | 2 | $0 | |
Rick Lane Trustee | 2 | $0 | |
Lucy Lane Corwin Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $82 |
| Dividends & Interest | $70,163 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $257,522 |
| Capital Gain Net Income | $257,522 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $327,767 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,970 |
| Depreciation | $0 |
| Occupancy | $3,910 |
| Travel, conferences, and meetings | $420 |
| Printing and publications | $0 |
| Other expenses | $3,568 |
| Total operating and administrative expenses | $29,688 |
| Contributions, gifts, grants paid | $319,250 |
| Total expenses and disbursements | $348,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,743 |
| Savings and temporary cash investments | $724,400 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,084,688 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Minnie & Bernard Lane Foundation has awarded $319,250 in support to 67 organizations.
| Grant Recipient | Amount |
|---|---|
Hickory, NC PURPOSE: MINISTRY TO FAMILIES | $50,000 |
ALTAVISTA AREA YMCA PURPOSE: GENERAL FUNDING FOR COMMUNITY SERVICE | $50,000 |
ANTIOCH PARTNERS PURPOSE: SUPPORT FOR LONG-TERM CROSS-CULTURAL MINISTRY | $31,000 |
CHRYSALIS INTERNATIONAL INC PURPOSE: MISSION TO DISCIPLE NATIONS THROUGH CHRISTIAN EDUCATION | $25,000 |
Richmond, VA PURPOSE: PROTECTING & RESTORING HEALTH OF JAMES RIVER & CONNECTING COMMUNITIES | $15,000 |
Hickory, NC PURPOSE: COUNSELING | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Bainum Family Foundation Bethesda, MD | $0 | $60,288,788 |